
NEWYORK,Jan.17(Xinhua)--China"seconomyisexpectedtodeliverastrongrecoveryin2023,buoyedbythecountry"soptimizedepidemicresponseandeffectivepro-growthpolicies,aneconomistatMorganStanleyhassaid.
Mobilityindicatorsacrossthecountry,suchasintracitytrafficandsubwayridership,"havealreadyreboundedmeaningfullyinearly2023,"ChetanAhya,chiefAsiaeconomistatMorganStanley,toldXinhuarecentlyviaemail.
"Wethinkthiswillhelpsupportahigherlevelofeconomicactivityfromanearlierstartingpoint,supportingGDPgrowththroughouttheyear,"hesaid.
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Inaresearchnotereleasedlastweek,MorganStanleyraiseditsoutlookforChina"sGDPgrowthin2023from5.4percentto5.7percent,predictingthatareboundinactivitywillcomeearlierandbesharperthanexpected.
TherapidreboundinmobilityandthealignmentofCOVID-19management,economicandregulatorypolicytopromotegrowtharetwomajorreasonsfortheupwardrevisionoftheforecast,saidAhya.
HesaidthatChinahaspledgedtosynergizeitsfiscalandmonetarypolicieswithitsCOVID-19responseshifttofacilitategrowthrecovery,addingthat"regulatorypolicyhasalsoturnedmoreconducivetoanchoringmarketexpectations."
Moreover,theannualCentralEconomicWorkConferenceaffirmedcommensuratesupportforbothstate-ownedandprivateenterprises,continuedtheMorganStanleyeconomist.
"Thisbackdropshouldsupportbothastrongerpolicypass-throughandprivatesectorconfidence,allowingastronggrowthrecoverytotakeholdin2023,"Ahyanoted.
Hesaidthatacomebackinprivateconsumption,especiallyservicesconsumption,willbeacrucialdriverforgrowth.
TheeconomistexpectedChina"srealhouseholdconsumptiongrowthtobeliftedto8.5percentin2023andanimprovementininvestment,includingthepropertysector,withpolicysupport.
Ahyaalsosaidthatasoundrecoveryoftheworld"ssecond-largesteconomycouldprovideatimelyboosttotheglobaleconomy.
"China"scounter-trendrecoveryshouldprovideanuplifttoaggregatedemandaroundtheworld,withthestrongestpositivespillovereffectstotherestofAsiaandEurope,"saidAhya.